TON Launch to be Postponed to 30.04.2020

Investors, that are not happy with this fact, may receive 77% of their investments
17 October 2019   625

Telegram is ready to postpone the launch of the Telegram Open Network (TON) blockchain platform and suspend all operations with the Gram digital currency. At the same time, the company intends to challenge the lawsuit of the US Securities and Exchange Commission (SEC). The lawyers of Telegram notified the court of the Southern District of New York.

We had intended to launch the TON network in late October. However, the recent SEC lawsuit has made that timing unachievable. We disagree with the SEC’s legal position and intend to vigorously defend the lawsuit. We are proposing to extend the deadline date in order to provide additional time to resolve the SEC’s lawsuit and work with other governmental authorities in advance of the launch of the TON network.
 

TON Team

At the same time, CoinDesk reports that the project investors received a letter with information about the proposed transfer of the TON launch from late October to April 30 next year.

At the same time, the company must approve the decision on the transfer with investors. Each of the groups of investors who bought Gram tokens during two rounds of ICO will have to approve it separately.

Investors of the second round are invited to fill out the appropriate form before October 23. If the majority refuses to sign, they will be returned “about 77%” of the investment. It is reported that investors of the first round received a separate letter.

In the event that the majority still approves the launch transfer, Telegram plans to send another $ 80 million for the development of TON.

Scam ICOs Founder to Go In Jail For 1.5 Years

Maxim Zaslavsky from New York aws found guilty in launching 2 fraudulent ICOs which raised $2.8M in total
19 November 2019   202

Brooklyn-based 39-year-old Maxim Zaslavsky, who was found guilty of fraud in organizing two ICOs, was sentenced to 18 months in prison. This was reported by the attorney of the Eastern District of New York.

Zaslavsky and his associates deliberately misled about 1,000 investors that the REcoin cryptocurrency they created was backed by real estate investments in developing countries. During the ICO, they managed to raise $ 2.8 million.

In August 2017, a Brooklyn entrepreneur launched a second cryptocurrency, calling it Diamond Reserve Coin, which was supposed to be provided with diamonds.

The total amount that victims invested in these fraudulent ICOs will be determined later.

In November 2018, Zaslavsky pleaded guilty and, according to his lawyer, was ready to return the money to investors, but his accounts were blocked.